The Cavaliers finished the season with a 32–50 record, finishing last in the Central Division and 6th Eastern Conference.
This was the 2nd consecutive year with a total win increase.
Lenny Wilkens led the team in assists and was named an All-Star.
August 23: Guard Lenny Wilkens and forward Barry Clemens obtained from the Seattle SuperSonics in exchange for guard Butch Beard.
September 21: Cavaliers trade the rights to 1971 second-round draft choice Steve Hawes to the Houston Rockets in exchange for a future undisclosed draft choice.